U.S.-Viet Nam trade turnover may exceed US$100 billion mark
VGP - The U.S.-Viet Nam trade turnover hit US$96.32 billion in the first nine months of 2022 and is expected to outstrip the US$100 billion mark by the end of October, according to the General Department of Viet Nam Customs.
Viet Nam earns US$11.6 billion from shipping electronic products and components to the U.S. in January-September period - Illustration photo
In the January-September period, Viet Nam earned US$85.17 billion from shipping goods to the U.S. representing an increase of 23.7 percent (equivalent to US$ 16.3 billion) in comparison with the same period last year.
Especially, there were 11 groups of goods exported to the U.S. with a turnover of at least US$1 billion each, of which four groups earned more than US$10 billion each including machinery and equipment (US$15.1billion), textiles and garments ($13.87 billion), computers, electronic products and components (US$11.6 billion), and mobiles and spare parts (US$ 10.1 billion).
The General Department reported that so far the U.S. remains the biggest importer of Viet Nam by occupying 30.16 percent of the total export turnover.
On the other hand, Viet Nam imported US$11.15 billion of goods from the U.S., representing a year-on-year decrease of US$ 600 million.
Viet Nam ran a trade surplus of US$ 74.02 billion with the U.S.
Last year, bilateral trade reached more than US$111 billion in 2021, an increase of nearly US$21 billion compared to 2020. With this trade volume, the U.S. becomes the second largest trading partner of Viet Nam (after China), according to the General Department of Customs.
In the 2020-2021 period, despite the prolonged Covid-19 pandemic and global trade conflicts, the U.S. still maintained its position as Viet Nam's largest export market, while Viet Nam continues to be the 9th largest trading partner of the U.S./.
